Published in Finland on March 7th, 2024
Twin Disc, Inc. Signs Definitive Agreement to Acquire Katsa Oy
Dear partner,
Twin Disc Inc. has announced on March 6th, 2024, that it has entered into a definitive agreement to acquire Katsa Oy, a leading European manufacturer of high-quality power transmission components and gearboxes. The agreement requires approval from the Ministry of Economic Affairs and Employment of Finland.
Mr. Tomi Koskinen will continue as the CEO of Katsa after the ownership change. Other management and employees of Katsa will also continue in their duties.
The agreement will not disrupt Katsa’s current businesses, but it is expected to increase work at Katsa and create new job opportunities.
Katsa continues to serve its customers like before, and both Katsa and Twin Disc aim to develop further and strengthen all customer relationships.
Twin Disc is an over 100-year-old active corporation (founded in 1918), with its head office in Milwaukee, Wisconsin. Twin Disc is listed on the NASDAQ stock exchange, and its net sales were about USD 277 million in the financial year 2023. Twin Disc operates in Europe, for example, in the Netherlands, Belgium, Switzerland and Italy.
The agreement supports Katsa in becoming a stronger international player in the industry. Especially Katsa’s gearbox business, which has progressed successfully during the last few years. The new owner’s global sales network will further help Katsa improve its customer service for international customers. Twin Disc will benefit from this agreement by getting high-quality gearbox production knowledge and capacity in Europe and gear component production capabilities that can cater to the needs of items assembled in Europe and North America.
Twin Disc has made earlier similar transactions in Europe, and they have been successful. Katsa and Twin Disc’s strategies match and complete each other. Twin Disc has recognized Katsa’s capabilities and wants to develop them further. After this ownership change, we can provide Katsa’s customers with more versatile service.
We respect our customers and partners and want to continue and improve the good cooperation with you.
Twin Disc Inc. is a global leader in power transmission technology and equipment for marine and land-based applications.
Katsa is a known supplier of gear components, gearboxes, and related services in Northern Europe.
VP Europe Kris Blommaert, Twin Disc Inc., +32495594932
CEO Tomi Koskinen, Katsa Oy, +358406734757